(BITF) Bitfarms - Overview
Exchange: NASDAQ •
Country: Canada •
Currency: USD •
Type: Common Stock •
ISIN: CA09173B1076
Stock: Bitcoin Mining, Hosting, Electrician Services
Total Rating 39
Risk 77
Buy Signal 0.03
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 143% |
| Relative Tail Risk | -12.6% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.87 |
| Alpha | 17.60 |
| Character TTM | |
|---|---|
| Beta | 2.606 |
| Beta Downside | 1.804 |
| Drawdowns 3y | |
|---|---|
| Max DD | 81.04% |
| CAGR/Max DD | 0.42 |
Description: BITF Bitfarms December 27, 2025
Bitfarms Ltd. (NASDAQ: BITF) runs integrated Bitcoin mining data centers across Canada, the United States, Paraguay, and Argentina. The firm owns and operates the hardware that validates Bitcoin transactions and sells excess hashing power, while also offering electrician services in Quebec and hosting third-party mining equipment. Founded in 2017 and headquartered in Toronto, the company rebranded from Bitfarms Technologies Ltd. to Bitfarms Ltd. in October 2018.
As of Q3 2024, Bitfarms reported an operating hash rate of roughly 4.5 EH/s and generated 1,200 BTC in the quarter, translating to an average production cost near $9,200 per Bitcoin-well below the prevailing market price. The firm’s cash balance stood at $140 million, providing a buffer against volatile electricity costs, which remain a primary economic driver for profitability. Sector-wide, Bitcoin’s price trajectory and global hash-rate growth continue to dictate mining margins, while the shift toward renewable energy sources is reshaping cost structures and regulatory risk.
For a deeper dive into BITF’s financial metrics and scenario analysis, you might explore ValueRay’s detailed model.
Piotroski VR‑10 (Strict, 0-10) 1.0
| Net Income: -130.3m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.57 > 0.02 and ΔFCF/TA -4.15 > 1.0 |
| NWC/Revenue: 95.41% < 20% (prev 75.40%; Δ 20.01% < -1%) |
| CFO/TA -0.38 > 3% & CFO -307.6m > Net Income -130.3m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 3.20 > 1.5 & < 3 |
| Outstanding Shares: last quarter (556.5m) vs 12m ago 24.03% < -2% |
| Gross Margin: -2.78% > 18% (prev -0.17%; Δ -260.9% > 0.5%) |
| Asset Turnover: 38.92% > 50% (prev 31.19%; Δ 7.73% > 0%) |
| Interest Coverage Ratio: -21.13 > 6 (EBITDA TTM -11.5m / Interest Expense TTM 5.29m) |
Altman Z'' 2.09
| A: 0.32 (Total Current Assets 374.7m - Total Current Liabilities 117.1m) / Total Assets 801.3m |
| B: -0.57 (Retained Earnings -459.1m / Total Assets 801.3m) |
| C: -0.16 (EBIT TTM -111.7m / Avg Total Assets 694.0m) |
| D: 2.79 (Book Value of Equity 530.2m / Total Liabilities 189.9m) |
| Altman-Z'' Score: 2.09 = BBB |
Beneish M -2.53
| DSRI: 0.66 (Receivables 13.0m/13.3m, Revenue 270.1m/183.0m) |
| GMI: 1.00 (fallback, negative margins) |
| AQI: 1.36 (AQ_t 0.06 / AQ_t-1 0.04) |
| SGI: 1.48 (Revenue 270.1m / 183.0m) |
| TATA: 0.22 (NI -130.3m - CFO -307.6m) / TA 801.3m) |
| Beneish M-Score: -2.53 (Cap -4..+1) = A |
What is the price of BITF shares?
As of February 08, 2026, the stock is trading at USD 2.14 with a total of 59,153,697 shares traded.
Over the past week, the price has changed by -8.55%, over one month by -25.44%, over three months by -42.01% and over the past year by +51.77%.
Over the past week, the price has changed by -8.55%, over one month by -25.44%, over three months by -42.01% and over the past year by +51.77%.
Is BITF a buy, sell or hold?
Bitfarms has received a consensus analysts rating of 4.75.
Therefore, it is recommended to buy BITF.
- StrongBuy: 6
- Buy: 2
- Hold: 0
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the BITF price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 5.4 | 153.7% |
| Analysts Target Price | 5.4 | 153.7% |
| ValueRay Target Price | 2.1 | -2.8% |
BITF Fundamental Data Overview February 02, 2026
P/E Forward = 84.0336
P/S = 5.0619
P/B = 2.3962
Revenue TTM = 270.1m USD
EBIT TTM = -111.7m USD
EBITDA TTM = -11.5m USD
Long Term Debt = 50.8m USD (from longTermDebt, last quarter)
Short Term Debt = 4.08m USD (from shortTermDebt, last quarter)
Debt = 73.7m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -13.3m USD (from netDebt column, last quarter)
Enterprise Value = 1.21b USD (1.40b + Debt 73.7m - CCE 258.2m)
Interest Coverage Ratio = -21.13 (Ebit TTM -111.7m / Interest Expense TTM 5.29m)
EV/FCF = -2.65x (Enterprise Value 1.21b / FCF TTM -458.5m)
FCF Yield = -37.75% (FCF TTM -458.5m / Enterprise Value 1.21b)
FCF Margin = -169.8% (FCF TTM -458.5m / Revenue TTM 270.1m)
Net Margin = -48.26% (Net Income TTM -130.3m / Revenue TTM 270.1m)
Gross Margin = -2.78% ((Revenue TTM 270.1m - Cost of Revenue TTM 277.6m) / Revenue TTM)
Gross Margin QoQ = -4.16% (prev -7.04%)
Tobins Q-Ratio = 1.52 (Enterprise Value 1.21b / Total Assets 801.3m)
Interest Expense / Debt = 2.56% (Interest Expense 1.88m / Debt 73.7m)
Taxrate = 21.0% (US default 21%)
NOPAT = -88.2m (EBIT -111.7m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 3.20 (Total Current Assets 374.7m / Total Current Liabilities 117.1m)
Debt / Equity = 0.12 (Debt 73.7m / totalStockholderEquity, last quarter 611.4m)
Debt / EBITDA = 1.16 (negative EBITDA) (Net Debt -13.3m / EBITDA -11.5m)
Debt / FCF = 0.03 (negative FCF - burning cash) (Net Debt -13.3m / FCF TTM -458.5m)
Total Stockholder Equity = 636.6m (last 4 quarters mean from totalStockholderEquity)
RoA = -18.78% (Net Income -130.3m / Total Assets 801.3m)
RoE = -20.47% (Net Income TTM -130.3m / Total Stockholder Equity 636.6m)
RoCE = -16.24% (EBIT -111.7m / Capital Employed (Equity 636.6m + L.T.Debt 50.8m))
RoIC = -13.30% (negative operating profit) (NOPAT -88.2m / Invested Capital 663.4m)
WACC = 14.84% (E(1.40b)/V(1.47b) * Re(15.52%) + D(73.7m)/V(1.47b) * Rd(2.56%) * (1-Tc(0.21)))
Discount Rate = 15.52% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 29.06%
Fair Price DCF = unknown (Cash Flow -458.5m)
EPS Correlation: 45.33 | EPS CAGR: -0.32% | SUE: 0.58 | # QB: 0
Revenue Correlation: 60.52 | Revenue CAGR: 4.08% | SUE: -4.0 | # QB: 0
EPS next Quarter (2026-03-31): EPS=-0.02 | Chg30d=N/A | Revisions Net=+0 | Analysts=1
EPS next Year (2026-12-31): EPS=-0.04 | Chg30d=N/A | Revisions Net=+0 | Growth EPS=+59.8% | Growth Revenue=-9.0%
P/S = 5.0619
P/B = 2.3962
Revenue TTM = 270.1m USD
EBIT TTM = -111.7m USD
EBITDA TTM = -11.5m USD
Long Term Debt = 50.8m USD (from longTermDebt, last quarter)
Short Term Debt = 4.08m USD (from shortTermDebt, last quarter)
Debt = 73.7m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -13.3m USD (from netDebt column, last quarter)
Enterprise Value = 1.21b USD (1.40b + Debt 73.7m - CCE 258.2m)
Interest Coverage Ratio = -21.13 (Ebit TTM -111.7m / Interest Expense TTM 5.29m)
EV/FCF = -2.65x (Enterprise Value 1.21b / FCF TTM -458.5m)
FCF Yield = -37.75% (FCF TTM -458.5m / Enterprise Value 1.21b)
FCF Margin = -169.8% (FCF TTM -458.5m / Revenue TTM 270.1m)
Net Margin = -48.26% (Net Income TTM -130.3m / Revenue TTM 270.1m)
Gross Margin = -2.78% ((Revenue TTM 270.1m - Cost of Revenue TTM 277.6m) / Revenue TTM)
Gross Margin QoQ = -4.16% (prev -7.04%)
Tobins Q-Ratio = 1.52 (Enterprise Value 1.21b / Total Assets 801.3m)
Interest Expense / Debt = 2.56% (Interest Expense 1.88m / Debt 73.7m)
Taxrate = 21.0% (US default 21%)
NOPAT = -88.2m (EBIT -111.7m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 3.20 (Total Current Assets 374.7m / Total Current Liabilities 117.1m)
Debt / Equity = 0.12 (Debt 73.7m / totalStockholderEquity, last quarter 611.4m)
Debt / EBITDA = 1.16 (negative EBITDA) (Net Debt -13.3m / EBITDA -11.5m)
Debt / FCF = 0.03 (negative FCF - burning cash) (Net Debt -13.3m / FCF TTM -458.5m)
Total Stockholder Equity = 636.6m (last 4 quarters mean from totalStockholderEquity)
RoA = -18.78% (Net Income -130.3m / Total Assets 801.3m)
RoE = -20.47% (Net Income TTM -130.3m / Total Stockholder Equity 636.6m)
RoCE = -16.24% (EBIT -111.7m / Capital Employed (Equity 636.6m + L.T.Debt 50.8m))
RoIC = -13.30% (negative operating profit) (NOPAT -88.2m / Invested Capital 663.4m)
WACC = 14.84% (E(1.40b)/V(1.47b) * Re(15.52%) + D(73.7m)/V(1.47b) * Rd(2.56%) * (1-Tc(0.21)))
Discount Rate = 15.52% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 29.06%
Fair Price DCF = unknown (Cash Flow -458.5m)
EPS Correlation: 45.33 | EPS CAGR: -0.32% | SUE: 0.58 | # QB: 0
Revenue Correlation: 60.52 | Revenue CAGR: 4.08% | SUE: -4.0 | # QB: 0
EPS next Quarter (2026-03-31): EPS=-0.02 | Chg30d=N/A | Revisions Net=+0 | Analysts=1
EPS next Year (2026-12-31): EPS=-0.04 | Chg30d=N/A | Revisions Net=+0 | Growth EPS=+59.8% | Growth Revenue=-9.0%